- Rhythm Biosciences (RHY) completes its initial biomarker review to support platform expansion of its core detection technology, ColoSTAT
- With the first phase of the expansion complete, the company will turn its focus on accelerating the next stage of feasibility, testing and validation of interest biomarkers
- Further, the company also engaged Agilex Biolabs to support the feasibility, validation and development works for one initial cancer target program
- Rhythm says its focus remains on ColoSTAT market launch preparations before the end of 2022
- Shares in Rhythm are down 4.39 per cent, trading at $1.42 at market close
Rhythm Biosciences (RHY) has completed its initial biomarker review to support platform expansion of its core detection technology, ColoSTAT.
The review included a sophisticated analysis of thousands of biomarkers with the outcome resulting in the company identifying leading biomarkers for each of the outline target cancers – breast, lung, cervical, pancreatic and gastric.
With the first phase of the expansion program complete, the company will turn its focus on accelerating the next stage of feasibility, testing and validation of interest biomarkers.
CEO and Managing Director Glenn Gilbert said the completion of the initial program directly supports the company’s platform expansion and called it a “significant step forward”.
“The potential here is exciting across the five additional cancer targets that have unmet screening needs and globally addressable markets,” he said.
“The company is working diligently to consider how best to leverage the outstanding cancer detection technology already built for ColoSTAT.”
The company has also engaged Agilex Biolabs, Australia’s largest and most technologically advanced bioanalytical and toxicology laboratory, to support the feasibility, validation and development work for one initial cancer target program.
Further, Rhythm said its focus remains on ColoSTAT market launch preparations before the end of 2022.
Shares in Rhythm were down 4.39 per cent, trading at $1.42 at market close.